Complications in the tax code cost billions of dollars in effort, documentation, calculations, and just plain money. And the idea is NOT to “put money into the economy.” You could do that with helicopters. What produces more wealth-production is low marginal tax rates.
The tax code should require the absolute minimum in record-keeping and every other kind of cost.
Tax rates should be low, lower, and lowest.
Trump should be demanding a maximum income tax rate of 20% or even less.
Why can’t Trump bring back the 9/9/9 plan?
They need just the 9 plan. Hate to see accountants and tax prepairers lose their jobs but oh well. They don’t produce anything anyway.
What we produce is what is extracted from the ground (petroleum, minerals, sun power and water). Everything else is just passing money around.
Arthur, what is on the table is what we get. It can be tweaked, and I believer there are several places this should be tweaked.
None the less, if those tweaks take place, we’re okay.
It may not be the plan either of us wants, but it is a plan and it could be implemented in months.
I will accomplish pumping more money into the private sector, will spark economic activity, and will approach the doubling of the federal government’s tax receipts over a few short years.
My big concern right now is the federal debt. We have to start paying that down. This can get us to where we can.
I believe there is a tax form credit card being considered along with this.
BTW: I have advocated for small businesses to get the same 20% ceiling that corporations will be getting, if reports are accurate.
I have no problem that 20% going across the board.
And yet they raise the lowest bracket from 10% to 12%.
Some “tax relief”
Complications in the tax code cost billions of dollars in effort, documentation, calculations, and just plain money. And the idea is NOT to “put money into the economy.” You could do that with helicopters. What produces more wealth-production is low marginal tax rates.
The tax code should require the absolute minimum in record-keeping and every other kind of cost.
Tax rates should be low, lower, and lowest.
Trump should be demanding a maximum income tax rate of 20% or even less.
Why can’t Trump bring back the 9/9/9 plan?
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Hard to swallow a “tax cut “ program that raises the bottom rate from 10 to 12%.
Lotta tax payers won’t understand increasing the exemption & eliminating tbe deductions
Optics for pelosi & co. easy to sell: 12 > 10